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MoneyBee.com :: Up to $1000 Express Cash. 99% Approval & Secure Application.button5MoneyBee.com : One of the big advantages of using payday loans is that they do not affect credit checks and credit history, in the same way as bank loans. There are however numerous misconceptions being circulated with regard to credit checks, which are highlighted to save you from unnecessary worries and stress.

Is There Such a Thing as a Credit Blacklist?
Contrary to the impression many individuals may have, there is no such thing as a list that contains the names of people who will never be able to obtain a mortgage or loan. Such a blacklist does not exist. Loan companies use the services of 3 United Kingdom credit check companies in order to determine each applicant’s credit history. If one has a pattern of skipped or late payments, he or she will naturally have a more difficult time obtaining a loan, however, this does not mean the person will be forever blacklisted from applying for credit. Payday loans are however in a whole different arena and therefore can be used during many difficult times.

Credit Problems From Divorce
This is also a myth which many people erroneously believe. With regard to credit checks, the only way in which another individual can affect one’s credit score is if there is still a legal marriage in effect, or if both names are on certain accounts. Where divorce is concerned, all one must do is become disassociated with his or her former partner. Once this has taken place, the other person’s credit history will have no bearing on the credit history of his or her former spouse.

Checking One’s Own Credit
Another common misconception with regard to credit is that if a person pulls their own credit report, he or she is ruining the chance to be approved for a loan. In reality, the exact opposite is true. It can be very beneficial for a person to check his or her own credit. Among other benefits, it is a way in which mistakes can be corrected and forgotten bills can be paid before they are seen by prospective lenders.

For instance, if a person checks his or her own credit and discovers a bill that was forgotten, the person can get a payday loan and quickly remedy the situation, whereas if the individual is unaware of the forgotten bill, the loan company may find it first, and turn the applicant down.

If it is a case that a bill was not forgotten but seemed impossible to pay, it can be a realistic time to consider payday loans to sort the bill out and avoid other issues.

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